EFFECT OF TAX AUDIT PRACTICESON REVENUE GENERATION IN OSUN STATE INTERNAL REVENUE SERVICE (OSIRS)
Abstract
This study investigates the effect of tax audit practices on revenue generation in Osun State Internal Revenue Service (OSIRS). Tax audit is a critical tool used by tax authorities to ensure compliance and improve government revenue. The study adopts a quantitative research approach using primary data collected through structured questionnaires administered to staff and stakeholders of OSIRS. Data were analyzed using descriptive and inferential statistics. Findings reveal that effective tax audit practices significantly enhance revenue generation by reducing tax evasion and improving compliance levels among taxpayers. However, challenges such as inadequate manpower, poor technology, and corruption hinder optimal performance. The study concludes that strengthening tax audit mechanisms will improve internally generated revenue. Recommendations include adoption of digital audit systems, staff training, and stricter enforcement policies.
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